Reporter this White House Press conference will now be at 5 30 p. M. Where we expect the discussion to revolve around Testing Capacity so more americans can get tested and go back to work the white house is expects to release two documents this evening. One is a chronicle of actions taken to date so far to ramp up the capacity of testing in this country. The second is essentially a blueprint for states for how they can get access to more tests, and what resources the federal government has that are available to them. The president hosted many leaders from retail and Farming Companies to talk about how to leverage the Retail Industry heres what some of these Companies Said they were willing to do. Cbs and lab corp. Are expected to provide 1,000 locations with the capacity to run 1. 5 million tests a month according to some of the promises that were released today walmart is expected to open a total of 100 sites, they say they will be able to test 20,000 a week target has provided some parking lots for other personnel to be able to run those tests. Its unclear what they are able to do with their own personnel after the president earlier this year asked them personally to get involved in this fight there are a couple others as well lab corp and i said i believe cvs earlier. Its lab corp. And walgreens conducting 50,000 tests a week cvs is going to provide 1,000 locations. Theyre hoping to get online to that level by the end of may a lot of these facts are coming in realtime, were expecting more information to come out of the white house momentarily, theyre trying to leverage the private sector here, to get all of these tests up and running, even if it is several weeks after, it would have been most helpful. Thank you, kayla. Retail by the way, a big winner today as retailers bet on reopening the economy. Are you betting on retail . Should you and are tests really the key for this sector here, guy . I think you bet on some of them are tests the key for the sector for the market i know everybodys pointing to that, i think there are a lot of other things on the surface that are very concerning. Ill answer your question. The retailers that have turn well in my opinion are going to continue to do well. Weve talked about Dollar General for a while. Today i thought whats fascinating was the move higher in target post earnings last week, obviously the move lower in walmart, i think that trend will continue, i think you can buy target and if youre into it, you sell walmart against it. I think all these big names, the macys, nordstroms, bed bath and beyond, to me, im not sure why necessarily today, but its a lot of Short Covering into earnings over the next couple weeks, so i wont be chasing those, but id be staying with the names i mentioned prior. The volatility is what you pointed out on our Conference Call earlier today we see a 5 move down on the same index really interesting. When you think about retail was a sector that you expected to be hit, when 95 of u. S. Retailers were forced to be closed down here, i think were seeing extreme volatility, you think about macys, nordstroms, kohls amazon, walmart, target, costco, these guys have been anointed the winners here they were anointed the winners before the crisis, and because of the forced shutdown of all of their competitors, theyve just done great. I mean, kayla had mentioned all this testing, lab corp. Separately said they could do Antibody Tests and expect to be able to do 2000 tests a day by mid may. Of the four of you, i would point to you as the one to most likely walk into a store and buy something, but what will it take for you to go into that store . I mean, a widespread Antibody Test thats sort of the question here how long can retailers with stand this pain . They would need to have some kind of suede or leather advertised in the window if you look at the outperformance of retail, and remember, this is a sector thats outperformed the s p by almost 17 you do the spy against the xrt, of where there have been massive performance. Its no question that retailers are getting some sense that you have a little bit more visibility and to truly where you have revenue stream after this complete shutoff. The question for retail has been the most levered names were the ones that were under the most pressure doesnt mean they have a lifeline weve talked a lot about macys and macys is one where i dont think macys comes out of this a Stronger Company at some point the valuation was really a very attractive or is attractive relative to the parks. Real estate value alone, Something Like a best buy which also the analog from 20, 2008, 2009 is something that investors punished more going into this relative to what they thought the consumer was going to be like coming out of covid19. We still dont totally know. I think someone like a best buy is very well exposed to the stimulus checks that go into households there are some relative winners in here, i agree with guy, relative value is the other part of this. I dont want to own walmart at this valuation, someone like target while i dont love that story for the consumer overall, its i much more attractsive trade. I know you are contrarian at heart. Im picking the right person on the panel for this he question in terms of the move in the xrt, could we be seeing this sector anticipate a reopening of the economy in advance as stocks do. Especially as the Texas Governor announces the april 30th expiration of the stay at home order, that is going to expire texas is going to effectively reopen to some degree already this week. Yes, so were going to see texas and georgia are going to be these test cases for us, if you willp to me, when i look at whats going on in retail, you say, this event is going to accelerate the trends that have been happening in the past which is the trend to online, you have curbside pickup, those type of things, that to me is whats happening here. So i dont want to be in a macys i dont buy the story that macys real estate is worth what it was prior to this crisis. I mean, theres a lot theres going to be a lot of real estate devaluation. Macys reminds me of sears years ago, youre going to be able to sell off the real estate and sears went to a bagel, thats zero macys a couple other retailers that are asset heavy, theyre going to have problems the ones that are going online, youre seeing it with walmart, potentially target, those are the winners on this. I like the choice of bagel over doughnuts, a nod to new york that is a team in this whole pandemic we had that note about disney and streaming, usually how situations like this are accelerants to transit that have been in place. They used that exact word. Can we apply that in your view to retail . I believe so. I absolutely believe so. Weve said this for a while now, many of these retailers we talked about at length, they were on this trajectory prior to the word coronavirus ever being uttered in mainstream media. Obviously this to your word and nathansons accelerated it ill ask you this. Whats the day after thanksgiving, what do they call that black friday. And then there was cyber monday happy turkey day, right everybody lines up. Do you think seriously, do you think there are going to be hoards of people lining up when they open at first probably not. No is the short answer. They can open whatever they want, people arent racing back, they can say theyll pay you to go on an airplane right now, its not happening i understand people want to be optimistic, i get it, trust me i get it, i just dont think were at that place right now where people are ready you know, the pent up demand that everyone talks about, i understand it in theory, i dont necessarily know if it happens in real life dan, quick. Yeah, just real quickly the half time report talked about on the other end of this crisis this consumer in 2019 was going crazy on credit to consume at levels of 90 to gdp versus normally 70 when you think about the massive job losses that we have had in a short period of time, and the likelihood that they dont come back for at least a year, year and a half consumption may be down a great deal we may get back to some saving, we may get back to the pent up demand for the checks, on the way out they may not be splurging on big ticket items. Lets talk about this changing, turning to another industry the casino stocks cruising higher to kick off the week. All locking in big games these names are still down big on the year, could it be time to get constructive on what the future holds for casinos we heard from the mayor of las vegas coming locally wanting to reopen the strip hes starting to think about what casinos could look like in this new environment if people have to be six feet apart, andpeople have to get their temperatures taken before they walk on to a casino floor, are you going to go . Well, i like to get to vegas a couple times a year. I think at some point you will go we have to understand what the new normal is. I mean obviously purely from a vaccine and treatment perspective. People will go back to casinos, if youre investing in casinos, 22 . Extraordinary release. 70 in 15 days or so a lot of this since april 7th, they guided on q1 and gave a liquidity update this is a company that has 3 billion in reserves or cash. Theyre burning in between macau and asia theyre burning 3 million a day, in the strip and u. S. , theyre burning about 3 1 2 to 4, call it 8 Million Dollars a day. This is a case where if youre a medium Term Investor in casinos, i think you have to own them again, if you look at wynn, lets start there, i think in the second week of may, you have a case where youre getting the u. S. Assets for free, based upon the valuation you have here. And i think gross gaming revenue or ggr in macau was priced down to nothing and i think the trendses there were pretty decent going into. Again, i think a lot of this will come back, it doesnt have to be tomorrow, the stocks have a massive move i hope it comes back, even in the medium term, and ill go to bk on this, lets say they reopen, and people have to be six feet apart, what does that mean for capacity in terms of the number of people on a percentage basis can occupy the floor safely lets just say for argument sake, every single possible seat thats six feet apart is occupied by somebody whos gambling what does that mean for the revenue for that particular casino still still a couple Different Things to remember on all this, the fact that all these casinos are hotels as well many hotels when theyre below 90 occupancy rates lose money and cannot operate i dont know how you have a casino thats half empty or half full depending on your perspective, and a hotel thats a third full or a half full and think youre going to generate the same kind of revenue as before the other thing im struck by, i know these casinos want to open up, im sure people will go there, theres a huge divergence between what the casinos are saying, and the airlines how do you get to vegas . You hop on a flight. Theyre saying its 1 to 2 years away before you get any type of volume brac up thats going to impact vegas with the runs off the bottom in these stocks, b. K. Is a seller last word, guy. So in early march, we mention how well relatively speaking wynn was trading visavis the Broader Market i know the last couple weeks, we said wynn resorts could trade up to 85 on air and today it traded up to 83. 99. Thats work, thats been the right call not because anything has fund amounts ali changed. You buy these stocks when things are getting less bad with that said, theres nothing more lame, i taught you how to play craps, remember you didnt teach me anything, i dont know how to play craps i dont know what youre talking about. Casinos with two people at a it aint a casino, maybe thats the new norm, but to bks point, theres going to be an opportunity to short these things, were probably a week away if wynn were to trade up to 90, i think you sell the double. I just say no to gambling, by the way. Gms dividend. Well find out if our traders like any of these names. Later, were kouning down to big tech earnings. Will it be a mega week for magg ga stocks . Welcome back to fast money, another dividend bites the dusts. Gms not alone, in case you lost track at home. This is a giant scrolling list of all the companies that cut their differ dengvidends in rec. We thought this would be a great time to play trade it or fade it dividend cut edition. We kick it off with guy ognjen motors we ask this question, because theres a couple ways to look at a dividend cut maybe theyre being conservative in shoring up their balance sheet. Right can i ask you a quick question im sorry, its been a while, the trade it part means i think its going to go higher from here so were trading at fade it. You know i dont like when you start with me, i usually cheat off the other guys i usually start with you, and trade it mines you buy it, fade it means you sell it fade it, fade it, fade it its funny, its not actually that funny if you go back to this new iteration of gm. It hasnt been a particularly good stock, its been an abysmal stock. The s p has gone from 700 to current levels and General Motors has gone from 33 or so to where we are now i dont see any compelling reason to own it the valuation argument has been there. Thats not going away, i would say, if you want to roll the tape, fade it. Im wondering if you agree with guy thank you for the sound effect a little delayed there if you agree with guy on this, and i will also ask the followup question in advance, would you have bought gm regardless of what it did with the dividend anyway, did you like it or did you never like it . So i to answer your second question first, i dont think youre buying gm to get the dividend youre buying gm because you think global car sales are going to go up, youre going to have a growing middle class around the world. Growingal motors people have called it. Thats why youre buying gm. In this environment, i dont want to touch it theres a lot of cars out there think about thats a fade it. You got hertz, you have avis, you have all these Car Companies, all these rental Car Companies that are saying theyre down theyre going to be selling cars like crazy i dont think gms going to do well tim, schlumberger im going to trade it look how it performed today with oil down 7 . They cut their dividend by 84 theyve gone out of their way to let you know where they have realed in capex. This is the case where you priced in enormous destruction and at this point the stock actually has the cashflow, the stock is the most efficient player rig counts have been cut massively. The sector is not going to get rosie on you over night. Its what its traded this thing down to, i think you can own schlumberger here. I think it reinforces that view. I trade it have i miss traded or faded darden is the next one. Trade it or fade it . I think you fade it here, the stock has gotten destroyed without a lot of visibility about their business goingforward. But it has a huge run off the lows here. Listen, i just take a much more pessimistic view of the economy here, i think this is going to take us a lot longer to work our way out. I cant speak to things like oil and rig counts and all that stuff that tim was just talking about. If you look at main street, you realize theres going to be tremendous disruption to the restaurant business, so, im hoping that darden makes it out alive. When you think about the fact that theyre not going to get back to peak earnings until 2021, 2022, i dont see why you buy this after that big run up its had over the last month last one up, trade it or fade it, hilton . This ones an easy one, its a fade it, we talk about the casinos you fade this one i think its going to be an awful long period of time. Before these rates get back to anywhere near the place that they can make some money youre raising your hand, guy, i will allow this. I know that there are five of us in five different spots, the crack crew in ec hopefully they can play the following sound bite on the back of b. K. , the great paris hilton saying, thats hot thats hot. There you have it good for you the market seems to be pricing on a big move from the fed this week. What if they dont deliver well break down the big fed bomb is trouble brewing for starbucks. Ayitusfa iba in two. Which is why were ready to listen. And ready to help you find opportunity. So. Lets talk. Edward jones. Its time for investing to feel individual. Since 1926, nationwide weve been there in person, during trying times. Today, being on your side means staying home. Nationwide office of customer advocacy. But we can still support you and the heroes who are with you. Were giving refunds on Auto Insurance premiums, assisting customers with Financial Hardships, and our foundation is contributing millions of dollars to charities helping with covid19 relief. Keeping our promise to be on your side. Finishing higher today for what could be a major moment of the truth for the market the fed kicks off a twoday meeting tomorrow, buying whatever it takes to stabilize the economy, the stakes couldnt be higher. Listen to what the chief economic adviser said earlier today on sidewalk box. If the fed went all the way down to high yield, why not one step further into stocks do they keep quiet and allow that implicit fed put to level the stock market i think theyre going to avoid this issue that would be an interesting proposition, ill kick it off with you lets be clear, the fed on its own cant buy equities, it would need congressional approval. In this crisis era, that may not be too far off either. Is there a belief in the marketplace that perhaps the fed could step in and really be a put for the market i hope not obviously, were going down a road i dont think we should go down, the second point is, i understand the crisis were facing on the health front in terms of the stock market the s p 500 is down 16 off its all time high . Thats no crisis obviously a couple weeks ago may have been a different story. The markets come raging back, to even have that conversation right now seems to me to be a little premature im not a fan of a lot of things the fed has done, and i can wax poetic as to a lot of the reasons i think weve gotten to where we are right now lets hope it doesnt have to come to that whats interesting, and you pointed this out, the fed has been in so many Asset Classes at this point, there are so many distortions within this market, how do you use for instance h